• S&P 500 hits all-time high despite COVID-19 devastation

    S&P 500 hits all-time high despite COVID-19 devastation

    The S&P 500 hit a fresh all-time high Tuesday as the US stock market continued its dizzying rally in spite of the coronavirus pandemic and the economic crisis it has caused. The benchmark index climbed about 0.3 percent to a peak of 3,394.02 in early trading, surpassing the previous intraday record of 3,393.52 reached on Feb. …
  • Markets should be pricing in would-be Biden win already — they’re not

    Markets should be pricing in would-be Biden win already — they’re not

    The conventional Wall Street C-suite wisdom is that Joe Biden and Kamala Harris will be moving to the White House next year, and that President Trump is trailing so badly in the polls that he simply won’t be able to overcome the pandemic and the recession it has created. Funny — that’s not what another …
  • Robinhood app luring and robbing amateurs — like in the dot-com era

    Robinhood app luring and robbing amateurs — like in the dot-com era

    The 1990s were simpler times. The news was dominated by Bill Clinton’s various sexual escapades, but also a bubble in internet-related stocks that was partly fueled by the democratization of stock trading. The latter inflated the stock market generally, and if you’re old enough to remember, pretty much crashed it. Newbie investors took the brunt …
  • SEC probes Kodak’s handling of pharmaceutical business: report

    SEC probes Kodak’s handling of pharmaceutical business: report

    The Securities and Exchange Commission is probing Kodak’s handling of material information about the startup pharmaceutical business it’s launching with the help of Uncle Sam.  According to the Wall Street Journal, the regulator is examining whether Kodak jumped the gun on a July 28 announcement that it had received a $765 million federal loan to …
  • Why looking at the stock market won’t give you full picture of US economy

    Why looking at the stock market won’t give you full picture of US economy

    Between the federal government and the Federal Reserve, about $10 trillion has been pumped into the US economy to prevent a pandemic-fueled economic collapse. Judging by the stock market, you would think we’ve sidestepped a 2008-size disaster. But stocks, at least in the short run, are rarely a good indication of what’s festering inside the …
  • A day after Congressional grilling, big tech stocks add $250 billion

    A day after Congressional grilling, big tech stocks add $250 billion

    A day after their leaders faced five hours of interrogation in Congress over allegations their power and influence is out of control, four of the biggest American tech companies saw their combined market value swell by $250 billion thanks to earnings that shocked even Wall Street. Shares of Amazon.com Inc., Facebook Inc., Apple Inc. and …
  • Wall Street bonus forecast not as dire as in May

    Wall Street bonus forecast not as dire as in May

    With the economy slowly bouncing back from coronavirus quarantines, Wall Street bonus season is shaping up to be less of a nightmare and more of a very bad dream. The latest survey by compensation consultant Johnson Associates predicts that financial services pay will be slashed by 15 percent to 20 percent in 2020 — a …
  • Stocks expected to tumble amid fears of coronavirus second wave

    Stocks expected to tumble amid fears of coronavirus second wave

    US stocks were poised to sink Monday as fears about a second wave of the coronavirus rattled Wall Street. Futures tied to the Dow Jones industrial average tumbled 641 points, or 2.5 percent, to 24,895.00 as of 7:08 a.m. after several US states reported spikes in COVID-19 infections and hospitalizations. Futures linked to the S&P …
  • Stocks rebound from worst selloff in three months

    Stocks rebound from worst selloff in three months

    US stocks rebounded Friday after fears about a new crop of coronavirus cases sparked the market’s worst selloff in three months. The Dow Jones industrial average had by 3 p.m. climbed 319.87 points, or 1.27 percent, to 25,448.04, clawing back some of Thursday’s nearly 7 percent loss. The S&P 500 also jumped as much as …
  • Small investors with stimulus funds drive post-coronavirus market surge

    Small investors with stimulus funds drive post-coronavirus market surge

    Move over hedge fund titans, Joe Sixpack is taking over the stock market. The recent rally, which has pushed the Dow up 45 percent from its coronavirus lows, is being driven in good part by mom-and-pop investors high on stimulus checks, the rise of free trades and apps like Robinhood, experts say. The Dow on …